Magnite Inc reports results for the quarter ended March 31 - Earnings Summary

• Magnite Inc MGNI.OQ reported quarterly adjusted earnings of 12 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 5 cents. The mean expectation of eleven analysts for the quarter was for earnings of 7 cents per share. Wall Street expected results to range from 3 cents to 10 cents per share.

• Revenue rose 19.3% to $155.77 million from a year ago; analysts expected $142.31 million.

• Magnite Inc's reported EPS for the quarter was a loss of 7 cents​.

• The company reported a quarterly loss of $9.63 million.

• Magnite Inc shares had risen by 8.4% this quarter and lost 22.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 10.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the advertising & marketing peer group is also "buy"

• Wall Street's median 12-month price target for Magnite Inc is $19.75

This summary was machine generated from LSEG data May 8 at 05:30 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)